JJB began a review of its Lifestyle division at the end of last year. A preliminary approach for the brands did not result in a sale.
In a Stock Exchange announcement today, JJB said that the Lifestyle division continues to trade at a “substantial” loss and that its directors have filed notice of intention to appoint administrators from KPMG. The board of JJB still hopes to attract a buyer to the business.
Lifestyle clothing and footwear brand Original Shoe Company has 64 stores and fashion footwear brand Qube operates from 13 stores.
It follows confirmation by JJB today that it has received a preliminary approach for its fitness clubs. It is widely believed that Mike Ashley has expressed an interest in the division.